President Donald Trump said Thursday he will not sign a bipartisan housing bill that includes a multi-year ban on the issuance of a U.S. central bank digital currency. Unless Trump actively vetoes the legislation before midnight tonight, the 21st Century ROAD to Housing Act will automatically become law under constitutional provisions. Trump called his refusal a protest over the Senate's failure to pass the SAVE America Act, a voting rights bill he has championed for months, though Republican congressional leadership has emphasized that bill stands little to no chance of passage.
Trump Announces He Will Not Sign Housing Bill
Trump wrote on Truth Social Thursday that he will not sign the housing bill. He characterized his move as a protest over the Senate's failure to pass the SAVE America Act, a controversial bill restricting voting rights. Republican congressional leadership has repeatedly emphasized the SAVE America Act stands little to no chance of passage.
Constitutional Provision Allows Bill to Become Law Without Signature
Under the Constitution, a bill passed by Congress automatically becomes law after 10 days without the president's signature, provided Congress remains in session. That deadline expires at the end of Friday. Trump's refusal to sign the 21st Century ROAD to Housing Act would not kill the bill unless he issues a formal veto before midnight tonight.
If Trump issues a formal veto before midnight tonight, the bill would return to Congress. Lawmakers would need to pass the bill again with a two-thirds majority in both the House and Senate.
White House Declines to Confirm Veto Plans
Reached by Decrypt, a White House spokesperson declined to say whether Trump intends to veto the legislation before midnight tonight. The spokesperson directed the inquiry to the president's Truth Social post.
Bill Includes CBDC Ban Through End of 2030
The 21st Century ROAD to Housing Act is primarily aimed at boosting U.S. housing construction by cutting regulations. The legislation also limits institutional investors' ability to buy up residential housing. Earlier this year, lawmakers added a provision to the bill prohibiting the Federal Reserve from issuing a central bank digital currency through the end of 2030.
The CBDC language was welcomed by crypto and privacy advocates, who have argued a government-issued digital dollar could enable federal surveillance of Americans' financial transactions. The Federal Reserve has continued researching the technology but has repeatedly said it would not issue a CBDC without authorization from Congress.
Congress Passed Bill With Veto-Proof Margins
The legislation previously cleared both chambers with veto-proof margins. The bill passed the Senate 85-5 and the House 358-32.
FAQ
What did President Trump say about the housing bill on Thursday?
President Trump said Thursday he will not sign the 21st Century ROAD to Housing Act, calling his refusal a protest over the Senate's failure to pass the SAVE America Act. He made the announcement on Truth Social.
When does the housing bill automatically become law?
The bill automatically becomes law at midnight tonight unless Trump issues a formal veto before the deadline. Under the Constitution, a bill passed by Congress becomes law after 10 days without the president's signature if Congress remains in session.
What does the housing bill say about central bank digital currency?
The 21st Century ROAD to Housing Act includes a provision prohibiting the Federal Reserve from issuing a central bank digital currency through the end of 2030. Lawmakers added this CBDC ban to the bill earlier this year.
